Why Banks Should Offer Mobile Banking to Small Businesses

Why Banks Should Offer Mobile Banking to Small Businesses

Boston, February 20, 2014 – Many financial institutions view small-business mobile banking as a necessary evil: They know they need to offer it but struggle to invest in something they usually offer for free. But banks must look beyond just charging for mobile banking itself. Current and future mobile users represent an attractive segment for financial institutions in the form of profitable customers and cross-sell potential.

Sponsored by Bottomline Technologies, this report sizes the small-business mobile banking opportunity and highlights other factors beyond fee-based revenue that banks should look to when building a business case for enhanced small-business mobile banking capabilities. It is based primarily on the results of a September 2013 Aite Group survey of 1,003 U.S.-based businesses generating less than US$20 million in annual revenue.

This 22-page Impact Note contains 16 figures and one table. Clients of Aite Group's Wholesale Banking service can download this report.